Quick update to let you know that I sold out of China Nuokang Bio-Pharmaceutical (NKBP) and ShangPharma (SHP). The first transaction is almost complete, and the spread between the buyout price and the market price is just a few cents anymore. The finish for the SHP deal on the other hand is just as far away as when I initiated my position, but at the same time a large part of the spread is already gone. I made an 8.1% return on NKBP in a bit less than three months time, and a 1.8% return on the SHP position in a bit more than a week. I prefer to buy a position and stick with it until the deal is finished, but I wanted to exit some positions to manage my risk exposure since I did initiate multiple new positions recently.
No position in NKBP and SHP anymore